Triethyl Phosphate Market Size 2021 | Is Projected to Reach USD 102.2 MN With 2.9% CAGR by 2027
The global Triethyl Phosphate market obtained market size around USD 94.5 Million in year 2020 and expected to grow at a CAGR of over 2.9% over the upcoming years from 2021 to 2027 to reach around USD 102.2 Million in 2027.
By: Credence Research
Impact of COVID 19 on Triethyl Phosphate Market
The current Covid-19 pandemic has had a significant impact on the global economy, with supply chain instability and decreased demand and supply as a result. The same can be said for the chemical industry, which includes triethyl phosphate, where lower production of plastics and agrochemicals in the first quarters of 2020 has slowed triethyl phosphate development to a halt. However, with regional governments taking steps to boost economic growth and improve the output of the industrial sector, triethyl phosphate is expected to expand in the next 3-4 quarters, following the growth of the industrial chemicals industry.
Global Triethyl Phosphate Market by Application Insights
Flame Retardant, Chemical Catalyst, Pesticide Intermediates, Organic Solvent, and Others are some of the major applications of Triethyl Phosphate. Organic Solvent segment accounted for the largest share in 2020 of the Triethyl Phosphate market in 2020.
Global Triethyl Phosphate Market by Product Insights
Industrial Grade and Superior Grade are the various products of Triethyl Phosphate. In 2020, Industrial Grade accounted for the largest share of Triethyl Phosphate market.
Global Triethyl Phosphate Market by Regional Insights
According to the regional market situation, South East Asia is a leading region with proven production hubs and a significant share of the end use market. China is thought to be the epicentre, accounting for roughly 70% of the overall industry, led by ASEAN countries and India. North America is another important area for Triethyl Phosphate, with a significant number of tier-1 producers.
Global Triethyl Phosphate Market Competitive Landscape
Most prominent players in the global Triethyl Phosphate market include Eastman Chemical Company, Alfa Aesar, Jilin Yongli Chemical Co., Ltd., Donghu Chemical, Lanxess AG, Merck KGaA, Ningguo Long Day Chemical Co., Ltd., Hongzheng Chemical, Jiangsu Victory Chemical Co., Ltd. and others. The report has detailed profiles of prominent players of market.
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